Captain Pipes Ltd Management Discussions.

1. INDUSTRY OUTLOOK:

During the period under review economy was passing through very good stage .There were
tremendous potential growth shown in the markets. Due to new government and changes in
government policies, plus government regulations current scenarios are very impressive
there is lot of potential demand for the next years. Our company has also made good
progress in turnover as well as in profit ratios.

2. OPPORTUNITIES AND THREATS:

The company envisaged remarkable growth over previous years. Companys turn over
shows increasing trends due to expansion of the financial charges and depreciation are
higher over the previous year. Government is providing various incentives under TUFs .The
Customers also growing rapidly. At the same time, there is intense price pressure from the
competitors and international financial crisis.

3. INITIATIVES

The initiatives are being taken by the Company for improving the quality standards and
reduction of costs at appropriate level. New machineries were installed to provide better
result and to cope up with changing requirement of the industry. The employees at all
levels are being made aware of the changing conditions and the challenges of the open
market conditions and to train the personnel to tackle the difficult situations which will
improve the overall productivity, profitability. Also initiatives were taken by company to
direct touch with farmers and also providing them quality services and knowledge.

4. RISKS AND CONCERNS;

Major fluctuations Rupee v/s dollar price corresponding to fluctuation in the raw
material price and stringent market conditions can affect the companys performance.
Product risk, risk of fluctuation in the raw material price, government policies,
financial risk can affect the company , which requires continuous follow up.

5 .DISCUSSION ON FINANCIAL PERFORMANCE WITH RESPECT TO OPERATIONAL PERFORMANCE

During the fiscal 2015-16, the Company has reported PBT of Rs. 49.81 lacs when compared
to the previous years figure of Rs. 164.78 lacs showing a loss of 69.77%.

Profit After Tax (PAT)

During the fiscal 2015-16, the Company has reported a PAT of Rs. 52.91 lakh when
compared to the previous years figure of Rs. 113.86 lakh, showing a loss of 53.53%.

Earnings Per Share (EPS)

EPS in the fiscal 2015-16 is at 1.27 as compared to EPS of 0.75 in fiscal 14-15.

6. INTERNAL CONTROL SYSTEM:

Your Company has a proper and adequate system of internal controls, to ensure the
safeguarding of assets and their usage, maintenance of proper records, adequacy and
reliability of operational information. The internal control is supplemented by an
extensive audit by internal and external audit teams and periodic review by the top
management, Audit Committee and Board of Directors

7. HUMAN RESOURCES:

In a competitive economy, the proper utilization of human resources plays a crucial
role. It begins with best practices in recruiting people and moves through learning and
development, engagement, employee feedback and rewards and recognition. Towards this, your
Company took various initiatives and has maintained healthy and harmonious industrial
relations at all locations. The dedication and hard work of productive and dynamic goal
oriented team is the key factor to the success of your Company. We believe that hiring the
right personnel and proper retaining is key to this success. To keep the Company and its
human resource competitive, we organized various training programs and experts were
engaged to train the employees at various levels. This active process of learning has
allowed employees enhance competence and motivation..

8. FUTURE PLAN:

As a long term planning strategy, company is planning to operate on a larger scale and
achieve the highest portion of market demand of its products. Promoters are working very
hard to lead company to new horizons and giving better results.

Mutual Funds:

Insurance:

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